What is DAI (DAI)?

Website: https://makerdao.com/en/

Maximum Supply: No Data

Total Supply: 3,765,513,508 DAI

Circulating Supply: 3,765,513,482 DAI

Explorer: DAI Explorer

Whitepaper: DAI Whitepaper

What is DAI (DAI)?

DAI; It is a decentralized, neutral, Ethereum-based stablecoin whose development is owned by the Maker Protocol, or MakerDAO. The price of DAI is pegged at $1, and each time a new DAI is minted, it is collateralized with a mix of other smart contract-based cryptocurrencies.

MakerDAO is a decentralized independent organization. It is a kind of decentralized self-governing company through the use of smart contracts, but consists of self-enforcing agreements executed on the Ethereum blockchain.

The main advantage of DAI is that it is pegged to the price of 1 US dollar. Another important advantage of DAI is that it is not managed by a private company but by a decentralized independent organization through a software protocol. DAI is not mined like Bitcoin (BTC) and Ethereum (ETH) and is not minted by a private company like Tether (USDT) according to its own issuing police. DAI can be printed by any user using the Maker Protocol.

There is no upper limit on the total supply of DAI. Supply is dynamic and depends on how much collateral is stored. As of November 2020, there are approximately 940 million DAIs in circulation. DAI is compatible with the Ethereum-based, ERC-20 network. As such, it is secured by Ethereum's Ethash algorithm.

Who is the Founder of DAI?

DAI' was not created by a single person or small group of founders. It is managed by MakerDAO and the Maker Protocol. MakerDAO itself was originally founded in 2015 by a Danish entrepreneur, Rune Christensen.